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December 2, 2011

Black Unemployment Rate Falls to 15.5% in November 2011

The economy added 120,000 jobs last month according to the Bureau of Labor Statistics. There are about 13.3 million unemployed people in the country bringing our overall unemployment rate to 8.6% ... down to its lowest level since March 2009. This is good news for the re-election prospects of President Obama.

The news is not as rosy for the Black community.

The unemployment rate in the Black community did fall from 16.7% (August) to 16.0% (September) to 15.5% in November.However, that is still a ridiculously high rate of unemployment ... that is even worse when you look at the impact on African Americans without a college diploma ... and worse than that for those in the Black community who left school without a high school diploma.

The jobs gained in November were in the following industries: retail trade, leisure and
hospitality, professional and business services, and health care.